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P2437 Update - Enhanced Prospectivity at Selene
P2437 Update - Enhanced Prospectivity at Selene.
About this update from Deltic Energy Plc
[{"type":"text","content":"\n \n \n RNS Number : 7096V\n Deltic Energy PLC\n 11 August 2020\n \n \n \n \n The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (\"MAR\"). With the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.\n \n \n \n \n \n 11 August 2020\n \n \n \n \n \n Deltic Energy Plc / Index: AIM / Epic: DELT / Sector: Natural Resources\n \n \n \n \n \n Deltic Energy Plc\n \n ('Deltic' or 'the Company')\n \n \n \n \n \n P2437 Update - Enhanced Prospectivity at Selene\n \n \n Deltic Energy Plc, the AIM-quoted natural resources investing company focused on high impact exploration and appraisal in the Southern and Central North Sea, is pleased to announce a material increase in the estimated volume of gas compared to previous estimates as well as a significant increase in the chance of success in relation to the Selene prospect.\n \n This process has comprised a considerable amount of work in relation to the existing reprocessed 3D seismic and utilised an innovative technological approach to depth conversion which was undertaken by a joint Deltic-Shell team. Further work on the depositional environment, structural history, gas charge timing and reservoir quality prediction was also completed as part of this process.\n \n Results from this technical analysis indicate that the Gas Initially In Place (GIIP) volumes associated with the preferred Selene interpretation have been significantly increased and further potential upside has also been recognised in the in-place resource calculations while at the same time the geological chance of success (GCoS) has also been significantly improved. \n \n Revised GIIP volumes and prospective GCoS figures are provided below:\n \n \n Gas Initially In Place (BCF, Gross)1\n P90 P50 P10 GCoS\n \n 2019 estimate 255 437 &nbs...